Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
Reassessment disclosure requirements permit stated reasons without revealing information sources, but prior-taxation claims require full examination b...
Independent assessment discretion and corroborated electronic evidence determine validity of on-money additions and undisclosed-consideration assessme...
Whether statutory authorities could undertake post-CIRP assessment and raise claims for interest and damages under Sections 7Q and 14B for a pre-CIRP period was determined by applying the moratorium under Section 14 of the IBC. Relying on binding precedent, it was held that once moratorium is in force, no assessment proceedings can be carried out and, consequently, no such claim can be raised even if the liability relates to a period prior to CIRP. On this legal basis, the rejection of the applicant's claim/application was upheld and the appeal was dismissed. - NCLAT
Whether statutory authorities could undertake post-CIRP assessment and raise claims for interest and damages under Sections 7Q and 14B for a pre-CIRP period was determined by applying the moratorium under Section 14 of the IBC. Relying on binding precedent, it was held that once moratorium is in force, no assessment proceedings can be carried out and, consequently, no such claim can be raised even if the liability relates to a period prior to CIRP. On this legal basis, the rejection of the applicant's claim/application was upheld and the appeal was dismissed. - NCLAT
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